TORONTO, Sept. 21 /CNW/ - BMO Financial Group has today been named as one of the highest scoring companies in the world and the only Canadian bank in the Global 500 Global Carbon Disclosure Leadership Index for 2009. This is the second year in a row that BMO - a long-time signatory to the Carbon Disclosure Project - has been included on this prestigious list.
The Index, created by the Carbon Disclosure Project (CDP), is comprised of companies based worldwide that show distinction on their reporting of greenhouse gas emissions and climate change strategies. Index members are distinguished by their level of understanding of the risks and opportunities of climate change to their businesses.
"All of us at BMO are proud that we have been recognized once again for doing our part in the global effort to reduce carbon emissions," said Bill Downe, President and CEO, BMO Financial Group. "Customers expect us to show leadership when it comes to the environment. We've set aggressive goals for ourselves, and we are pleased how we have been minimizing the environmental impact of our operations."
"Climate change has profound implications for our customers, shareholders, communities - and our business," said Jim Johnston, Director, Environmental Sustainability, BMO Financial Group. "We are committed to achieving carbon neutrality by 2010 across our enterprise - worldwide. To help reach this goal, we intend to reduce net emissions related to energy consumption and transportation to cut our greenhouse gas emissions by 5 per cent from 2007 levels."
BMO has been a leader in reducing its non-renewable energy consumption. Since September 2007, all newly opened branches, relocations and major renovations in Ontario, Alberta and British Columbia (76 so far) have been powered from renewable energy.
BMO is a significant purchaser of electricity from Bullfrog Power, an electricity retailer that markets energy from clean, renewable sources like wind power and low-impact water power. BMO has an agreement with Bullfrog Power to purchase more than 8,300 megawatt hours of emission-free electricity annually, enough renewable energy to power nearly 100 BMO branches.
BMO is listed on the Dow Jones Sustainability North America Index, the Jantzi Social Index and FTSE4Good Series Index. BMO has appeared on Corporate Knights Magazine's Best 50 Corporate Citizens list every year since 2003.
BMO recently redesigned its Corporate Responsibility website and expanded significantly the section devoted to addressing climate change (www.bmo.com/environment). To help customers, investors, employees and other interested parties make sense of it all, the new site provides one of the most complete compilations of corporate performance data among its peers.
Copies of our 2009 CDP response are available on www.bmo.com/environment under "Environmental Performance", as well as on the Carbon Disclosure Project site www.cdproject.net.
SOURCE BMO BANK OF MONTREAL
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